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masya89 [10]
3 years ago
13

An individual received $50,000 during the current year pursuant to a 2019 divorce decree. A check for $25,000 was identified as

annual alimony, checks totaling $10,000 as annual child support, and a check for $15,000 as a property settlement. What amount should be included in the individual's gross income.
Business
1 answer:
suter [353]3 years ago
6 0

Answer:

$25,000

Explanation:

Alimony payments may be deducted by the paying spouse, but the recipient spouse must include them in their gross income.

Child support payments and property settlements are not included in the recipients gross income because the paying spouse cannot deduct them either. THE IRS NEVER LOSSES.

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Answer:

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Barter is the oldest form of trade wherein goods were exchanged for goods. Offset is a countertrade wherein transactions are set off in future or off set. In counter purchase both parties agree to purchase and sell goods to one another under different contracts.

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